All Forum Posts by: Val Dufour

I guess that I should clarify that the cap rate I was hoping for is after I satisfy the live in requirement of the VA loan and have all units rented. I've found a few places around $300K-$350K with approx $800 per unit which after the numbers I use gives me a 7-8% but was just hoping for a little better. The market may not support it, but all I'm really looking for is if anyone knows of any sources that may not be included in the MLS?
Thanks.

So this may not be the proper category, please forgive me if it isn't and direct me to the proper area. I'm looking for sources for a 4-plex in Denver. I'm a currently deployed soldier who plans on using my VA loan to get a multi plex to return to.
I've got a real estate agent who is broswing the MLS for me and I've been watching craigslist, but haven't found the perfect property yet. My timeline is beginning to compress as my tour approaches it's end.
My hope is for a 4-plex less than $400K and a 10% cap rate(which I'm realizing is a high expectation) in as close as possible to move in condition without all units occupied(I'll have to live in one to satisfy the VA requirement).
I've got about a month left before I need to be looking at starting the closing process.
Any input would be greatly appreciated.
Thanks,
Val

Bill Wilson welcome!
I'm from CO and also new to REI and bigger pockets. I'm currently deployed so just using my time to learn as much as possible. This site is definitely a wealth of knowledge. Seems there are mixed views on paid mentor/guru types but I feel having a personal source that I'm compensating for their time might be beneficial to my personality type. Please let me know how your experience goes and when you start making deals.

Best of wishes.

Grant P. Anson Young
Hey Guys, yeah, I've already seen the post for the monthly meet up. Unfortunately I won't be back til June time frame, but I will likely be back in time for the June meet up. If I'm back I'll definitely be there and might bring a friend or two who are also interested in the business.
Thanks again for the welcome and looking forward to meeting with everyone.

Thanks @Brandon Turner. I went to CSU too! I assume that's why you lived there. Living in Denver now and looking to start my investments in CO, but hoping to branch out nationally within a short time period.
Yeah, I've been looking at properties that would net $500-$800 if all units are rented, but hoping for a bit more. I've got a bit more time to look for something more more along my expectations of a 10% cap rate. We'll see how it goes.
And that's funny you should mention the rich dad poor dad seminars. I just read about the up sell in my BP search for mentor/online course posts. Loving the site so far. Seems like lots of genuine, experienced, knowledgeable people here. Can't wait to get back and network with some of the member from CO in real meet ups.
Thanks again for the welcome, I'll definitely make the most of it!

Thanks Joel. I definitely plan on making much more strategic purchases from here on out. The first condo was more because I actually wanted to live there for a while.

Thanks for the welcome Mark. I see exactly what you mean.

Appreciate the info Tanya. I definitely plan on attending the next rich dad, poor dad in Denver after I return. As well as any other meetings/seminars I can get into. I want to immerse myself as quickly as possible to keep my motivational level peaked.

Hey everyone! Enthusiastic new investor. Currently deployed but will almost certainly be at the June meet up. Might bring a friend or two. Hope to see everyone there!

Hello BP!
My name is Val(yes, I'm a guy. yes, it's my real name). Very excited to be here. I'm an enthusiastic new REI from CO who is currently deployed to the middle east. Right now I have one condo which I have turned into my first rental(slightly negative cash flow due to HIGH HOA, so potentially flipping it soon) and have aspirations of using my VA loan to purchase my first multi-family(did you know you can use it for up to a 4-plex with 0 down as long as you live in one of the units?!) for hopefully some positive cash flow!
I've been reading everything I can on real estate the past few months. Favorite author so far is Robert Kyosaki(shocker I know!) and am looking to jump in with both feet upon my return to CO.
Have a good friend who is dabbling in fix and flip foreclosures, but my long term goals are consistent cash flow. Still learning as much as I can, but wholesaling seems like a typical entry point. Would love a recommendation of a solid, not outlandishly priced online course from anyone who's had success with one.
I'm hoping to get to know anyone from CO looking for partner/student/investor/friend/anything in the business haha. Using the deployment to build up a decent nest egg so I'll have some capitol to work with upon return in June. Hope to hear from people soon.
Val